Small firm salary help PLEASE

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Small firm salary help PLEASE

21 posts from 16 voices

Started 7 months ago by jamesjohnson11
Latest reply from Amalgamate

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jamesjohnson11

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I have an offer at a small firm around 30-50 people and the position is entry level audit associate, but I am not happy with the salary.

When asked what salary i am looking for I said around the low 50's no less than high 40's and he told me thats unrealistic. I told him I am coming off a 150 credit program and will be a cpa soon and low 40's is too little but he said it doesnt matter.

I would like to know from anyone who knows starting salary for audit at a small firm.

If you don't want to say an exact number I don't even care just give me a general range because I certainly feel I am being lowballed and should be getting more.
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Posted 7 months ago #
markiux88

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I would say 39-43k is realistic for an entry-level audit position.... being a CPA is the standard these days and many people would be willing to start at even lower salaries..

Posted 7 months ago #
jamesjohnson11

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I have never seen an entry level audit salary in NY for any less than 47,000.

Posted 7 months ago #
mla1169

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Is the job you received an offer for in NY? When you say you've never seen an offer less than $47 do you mean from big 4?

Sadly right now the market is awful and people are willing to work for $39k just to have something.

FAR- 77
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REG -56,75!
BEC -75

If I can do this, YOU can do this! Hang in there :)

Posted 7 months ago #
sacredtheory

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Since you mentioned NY in your second post I'm assuming that's your location. In my area, south-central PA, depending on the size of the firm, I'd say the average would be 38-42k.

I have no idea what your personal situation is like, but I do know the market still stinks, and I'd be perfectly happy with that salary if I was entry-level. If you're fresh out of college, that's not a bad starting salary.

BEC: Passed
AUD: Passed
REG: 05/12
FAR: 08/12

Jared

Posted 7 months ago #
pinkpink114

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My husband is a manager at a firm in the Philly metro area, about 65 employees. He said entry level, passed all four parts but needs to complete the work experience is around $38-$42K

Posted 7 months ago #
sacredtheory

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@pink

Hey, we're close. Is your husband hiring? ;-)

BEC: Passed
AUD: Passed
REG: 05/12
FAR: 08/12

Jared

Posted 7 months ago #
CalCPASoon

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I dont know....is it a non-exempt position where you can expect to get paid overtime? or do they have a bonus structure in place to compensate for extra hours worked? Will you get a bump once you are licensed?

Have you passed any parts of the CPA? Just because you will be a cpa eventually does not mean you are entitled to any kind of extra compensation now.

You said you were looking at least high 40's, and they offered low 40's? so say you and the firm are $5,000 apart...thats like $2.4 an hour...are you really going to turn down the only opportunity you have for $2 an hour? You can also move to a different firm later if you get a better offer somewhere else, but for now this sounds like something you might want to really consider.

CalCPASoon....CalCPAFinally! Yay I made it!
CPA licensed in California!

Posted 7 months ago #
RalphDoggy

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Im in Portland, OR and I started at a small firm (17 professionals) at 42k

REG - Passed
BEC - Passed
FAR - 05/26/12
AUD - Passed

Posted 7 months ago #
calisteph6

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I guess it depends what the raises are like. Do they give decent raises (5-10%) every year even to average performers? If so, you can move up in salary quickly. I started in the low 40's at a top 10 national firm (but a very small office in a small town in Southern CA) 5 years ago...but the market was better then. Plug the numbers into salary.com, but imo that site is a little generous right now because of the job market.

Posted 7 months ago #
sacredtheory

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You can also check out Robert Half's 2011 salary guide. You can customize it to the size of the firm and your location. It should give you a good estimate.

BEC: Passed
AUD: Passed
REG: 05/12
FAR: 08/12

Jared

Posted 7 months ago #
sacredtheory

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http://www.roberthalffinance.com/SalaryCenter

BEC: Passed
AUD: Passed
REG: 05/12
FAR: 08/12

Jared

Posted 7 months ago #
Herbieherb

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I don't think thats too bad. Look at all your classmates...do you really think they are all getting jobs after they graduate? Ask around before you reject these guys. You might see them at the Occupy Wallstreet protest.

AUD 8/1/10 - 78 , REG 11/7/10 - 88
BEC 11/30/10 - 81, FAR 2/28/11 - 79
CPA 06/01/11 NEW YORK- DONE

Posted 7 months ago #
hopefulcpa28

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One of my friend majored in Finance, one in Information Technology...bachelor degrees, no other advance educations.

The one who majored in Finance is working as financial analyst at Intel ($55k+) and other one is working at Boeing as an IT person (high $40k)...

They are both smart but didn't graduate with 4.0 nor 3.7, etc...One who works at Boeing worked at a grocery store until 6months after graduation and the other one had internship at Scottrade for 6months before grad, otherwise worked at a grocery store.

I'm not saying they don't deserve their pay or that they are lazy, stupid, etc...(they are my best friends, after all). However, how is it that they are making way more than entry level CPAs? Not fair, at all. These exams are nothing short of challenges (he**), even then some of us will/are making less then them?

Posted 7 months ago #
Amalgamate

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I agree that your expectations may be slightly unrealistic. I do hiring of accountants for my small firm in Ohio and we start our accountants off around $40K right out of college. Things to consider are the fact that cost of living is not very high here and we only require our staff to work 40 hrs a week. However, we don't offer much in the way of benefits outside of full individual health coverage and 2 weeks vacation.

I don't think he's low-balling you...there are a ton of good applicants out there so hiring managers pretty much have their pick of good candidates and if you won't do it for $42K, they'll find someone who will. It's tough out there right now. It doesn't mean they can't afford to pay you more, but why would they if they don't have to?

AUD - 93
REG - 89
BEC - 91
FAR - 94 I'm done!!

Posted 7 months ago #
misanthrope87

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The firm I work at is the same size as yours. 42k to start and there was no raise after the first year. =( IMO they are low balling us but can get away with practically anything due to the situation of the economy. Keep in mind that living costs are high around here too.

B 87
A 90
R 86
F

Posted 7 months ago #
jelly

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How much prior bookkeeping or audit experience do you have? How many parts passed? How many decent paying clients are you bringing to the firm?

And do you know how much you really cost the employer, even if you are part of a deductible business expense to the company? Let's say @ $42,000, fill in the blanks and do the math:

1) $42,000 salary offer
2) 7.65% employer's FICA match
3) incremental increase in state's unemployment insurance (UI) for your salary
4) incremental increase in worker's compensation for your salary
5) incremental increase in professional liability and E&O insurance
6) incremental increase in disability insurance - can vary, depending on who picks up the short-term and long-term disability
7) employer's portion of health/medical insurance
8) additional administrative costs for fringe benefits such as 401k, pre-tax health accounts, pre-tax transportation reimbursement, life insurance
9) additional fees for UI claims if the company's business goes south and you separate involuntarily

While some of these are incremental, i.e. an extra $23, imagine if you were a contractor to them and had to shoulder these costs yourself, so you are benefiting from the economy of scale the employer offers.

Couldn't pass again!

Posted 7 months ago #
chakdey

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@Amalgamate In what part of Ohio are you located?

FAR - Passed (Second Attempt)
AUD -
BEC -
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Posted 7 months ago #
dtomasello

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Considering the amount of education and hard work it takes to become a CPA, I think the OP has every right to frustrated. It disgusts me that I personally know high school drop outs (and not the sharpest pencils in the pack either mind you) who are making a lot more than that with a hell of a lot less responsibility. The simple truth is the market is over saturated with inexperienced young grads and CPA firms will low ball the hell out of them because they can. Why pay more if you know someone with the same credentials will do the same job for less? Even if they deserve a better wage? If the ecomony ever gets out of the gutter then things will improve but I wouldn't count on it happening anytime soon.

AUD No Credit
BEC No Credit
FAR No Credit
REG Credit

Posted 7 months ago #
Resacups

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I am in Atlanta and my firm has 25 professionals and first year salary is 50K plus bonus.

Posted 7 months ago #
Amalgamate

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@chakdey - Columbus, OH

AUD - 93
REG - 89
BEC - 91
FAR - 94 I'm done!!

Posted 7 months ago #